All posts tagged utilities

Progress Energy celebrated independence day early by giving up its own, completing its merger with Duke Energy on Tuesday. Not everyone was popping corks though: Progress CEO Bill Johnson resigned rather than stay on to lead the utility behemoth he helped create.

Duke’s board won’t say why Johnson left. The move is nothing less than stunning. Johnson had gone through a glacial 18-month process to complete the deal and was set to run the largest electricity company in the U.S. Only this weekend, he said in an interview with the Charlotte Observer that he would work to soothe the workforce after such a long period of uncertainty.